Lake Wire, Lakeland’s New Mixed-Use Development, Officially Breaks Ground
LAKELAND, Fla. (Feb. 9, 2023) – Today Atlanta-based real estate developer Carter held a groundbreaking ceremony for Lake Wire, commemorating a milestone event in the heart of downtown Lakeland. The new mixed-use development, a joint venture with Hunt Companies, Inc., is adjacent to Lakeland’s new privately funded 168-acre Bonnet Springs Park, spans 22 acres and includes 630 multifamily residential units and 30,000 square feet of retail space. The first phase, which includes 300 multifamily residential units and 15,000 square feet of retail space, is under construction and planned to deliver in 2024.
Lake Wire will be the first major development project following the park’s opening in Lakeland’s burgeoning Downtown West corridor. The property, once home to the headquarters of Florida Tile, will be transformed into an inviting, walkable destination anchored by Prospect Lake Wire, the project’s Class-A multifamily community. The retail portion of the project will line Kathleen Boulevard, creating a welcoming entrance to the development that will feature a mix of locally-sourced restaurants and businesses. Prospect Lake Wire looks to welcome its first residents by mid-year 2024, and retail leasing is expected to begin later this year.
“Carter and Hunt have chosen an optimal time in Lakeland’s growth to bridge downtown Lakeland with Bonnet Springs Park,” said Lakeland Mayor Bill Mutz. “Their soon-to-be-built mixed-use development will extend Downtown West brilliantly! I join many others as we witness the work transforming the Lake Wire area.”
“Lake Wire will become a catalyst for future pedestrian-friendly projects that connect downtown Lakeland and the west side in a way that has never been done before,” said Jack Murphy, vice president at Carter. “This will be a complete reimagining of a former industrial center to create a new space for the entire Lakeland community, bringing together local retail and dining options and high-end housing to ultimately serve as an economic engine for Bonnet Springs Park.”
“Hunt is proud to partner with Carter to redevelop this Designated Opportunity Zone Investment to further connect downtown to the recently opened Bonnet Springs Park. The project would not be possible without the amazing support of the City of Lakeland, the Barnett Family and the Lakeland Community Redevelopment Agency," said Dominick Cristiano, executive vice president, Hunt Companies, Inc. "The mixed-use development at Lake Wire will help continue the transformation of the greater Lakeland downtown area.”
“The Lake Wire development is exactly the type of investment in Lakeland’s west side that we believed would follow the opening of Bonnet Springs Park,” said Nick Barnett, Bonnet Springs Park board member. “We’re pleased that the teams at Carter and Hunt bought into our vision for creating a vibrant, connected corridor, anchored by our city’s new world-class park, and we’re proud to welcome Lake Wire as the first development to start the momentum.”
Led by developer Carter, the Lake Wire team also includes investment partner, Hunt Companies, Inc. of El Paso, Texas, general contractor DeAngelis Diamond of Naples, architecture firm The Preston Partnership of Atlanta, Ga., and lending partners Citizens Bank and Bank United.
For more information, visit www.lakewirefl.com, stay updated by following Lake Wire on Instagram.
